Existing Tax system is crippling ease of business скачать в хорошем качестве

Existing Tax system is crippling ease of business

Dr Nadia Farooq, Independent Economist provides her recommendations for the Strategic Trade Policy Framework 2018-23 -------------------------------------------------------------------------- This video was recorded at the 1st National Conference on Open Trade, organized by Policy Research Institute of Market Economy, and enabled by the Friedrich Naumann Foundation for Freedom. -------------------------------------------------------- Dr Ishrat Hussain, former governor SBP, delivered the keynote address stated that Pakistan has a very high cost of production particularly due to high gas and electricity prices. He stated that the domestic consumers’ energy bills are being subsidized by the industry, and this happens only in Pakistan. He was of the view that in the sector of textiles, the world around us is moving towards man-made mix fibres. Dr Ishrat lamented that Pakistan continues to be unable to exploit such tariff lines which face zero tariffs in GSP Plus. He claimed that there is too much of a blame game going on in the country, with the industry blaming the government and vice versa. Dr Ishrat also criticized The taxation system, which he said penalizes the formal tax compliant firms and places those that are out of the tax net at an advantage. Post the 18th constitutional amendment, the four provinces have started collecting their own GST on services. So the tax system has now become more dominant on the businesspersons’ time. The government does not realize that high tariff rates actually act as a tax on exports. He quoted a World Bank study which found out that a 1 percent rise in tariff complexity contributes to a 13 percent decline in export growth.